Egypt's MNT-Halan sells $50mln in local corporate bonds

Egyptian microfinance lending and payments company MNT-Halan sold 2.5 billion Egyptian pounds ($49.4 million) in corporate bonds to finance further growth of its Egyptian loan book, it said in a statement on Monday.

The bonds were sold to institutional lenders, the company added.

MNT-Halan, Egypt's first unicorn, or privately held venture capital company worth more than $1 billion, expanded outside Egypt last year with the purchase of Turkish micro-leasing company Tam Finans.

The company says it has disbursed more than $11 billion in loans both inside and outside of Egypt.